Ukraine receives EUR 63 million from the World Bank to finance wages for teachers

Today, on June 19, the State Budget of Ukraine received funding from the World Bank in the amount of EUR 63 million.

The funds were provided by the International Development Association (IDA) on concessional terms under the World Bank's Project Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE in Ukraine).

The loan has a maturity of 10 years, with a 4-year grace period.

The funds will be directed to partially reimburse the State Budget expenditures made to pay wages of government employees and pedagogical staff for February and March 2023.